Delicato Family Wines completing acquisition of V2 Wine Group into luxury brands division
As part of its continuing move to upscale brands, Napa-based Delicato Family Wines is completing the consolidation of V2 Wine Group, a sales and marketing organization for family-owned luxury brands.
Delicato had made an equity investment in V2 in early 2017 and in May 2018 moved the organization to Delicato's offices in south Napa from Sonoma, with V2 founders Dan and Katy Leese at the helm. Then in January of this year, Delicato announced it formed an upscale division, called Transcendent Wines.
On Monday, CEO Chris Indelicato sent around a letter announcing Delicato was “finalizing our investment” in V2 and Dan Leese is leaving the company for a “leadership role in the spirits industry.”
Before starting V2 in 2010, Dan Leese held management positions with beverage alcohol distributor Brown-Forman and Beringer Blass Wine Estates, which later became part of Treasury Wine Estates.
Indelicato credited the Leeses with helping to establish the Transcendent Wines division, part of a shift to more premium wines that started with the acquisition of Black Stallion Winery in 2010.
“As a result of this partnership with the Leeses, we have successfully attracted well-known and prestigious winemaking families to entrust their brands into our portfolio,” Indelicato wrote.
Founded by the Indelicato family in 1924, Delicato was the sixth largest U.S. wine company, based on production last year of 11 million cases.